Bitcoin evangelist has always attributed Bitcoin to be a safe-haven asset, while extreme fanatics believe that Bitcoin is far better than gold. Bitcoin was born in the wake of the 2008 financial crash as a libertarian currency and as an instrument that could help cushion the event of a future financial crisis.
Since Bitcoin is purely a speculative risk asset, many people have doubted its position as a purported safe-haven asset, I am not one of them anyways. However, since Bitcoin hasn't witnessed a global recession yet, I feel Bitcoin hasn't sufficiently defended its narrative as a safe-haven asset.
As the possibility of a global recession intensifies, what's your take on the possible performance of Bitcoin? will it go down with the traditional market or will it defend its name? I am very much interested to know.
Bitcoin, in the future when the global market becomes more uncertain, it may rise, or it may continue to fall. Due to the small market capacity and the more easily affected prices by the futures market and manipulation by giant whales, Bitcoin's market is almost independent of other markets. Although I am very optimistic about Bitcoin, at present, I am not optimistic about its use as a safe-haven asset. The impact of the epidemic is a bit of a chaotic world. I think whales or bigwigs will hold both Bitcoin and gold